Plug Power Continues to Expand the Hydrogen Economy with Hybrid Fueling Station Solutions
28 Marzo 2018 - 1:00PM
Plug Power Inc. (NASDAQ:PLUG), a leader in providing energy
solutions that change the way the world moves, continues its
leadership in design and construction of hydrogen fueling stations
with the deployment of its novel GenFuel hybrid hydrogen fueling
station in Apple Valley, California. The hybrid station combines
the best attributes of liquid hydrogen storage with on-site
hydrogen generation.
For customers, the combined results of the GenFuel hybrid
solution include lower hydrogen fuel costs, reduced capital
expense, and the flexibility to easily respond to demand peaks. In
addition, the on-site hydrogen generation capability provides
operational continuity throughout logistical emergencies in which
fuel delivery may be interrupted.
“Plug Power and California are leaders in the hydrogen economy
and deployment of hydrogen powered mobility,” said Andy Marsh, CEO
for Plug Power. “With this deployment and launch of our new hybrid
hydrogen fueling station solution in Apple Valley, Plug Power
continues to expand our served market and meet the need for
economical hydrogen solutions for electric vehicle operating
fleets.”
The GenFuel hybrid fueling station incudes a natural gas-fed
reformer and liquid hydrogen storage. The on-site generation
solution reliably produces hydrogen per the modular reformer and
utilizes stored liquid hydrogen to manage demand peaks.
Plug Power is an industry leader with it’s GenFuel line of
scalable hydrogen fueling stations. To date, the company has
completed more than 60 hydrogen fueling stations, each with 4 to 6
hydrogen dispensers. GenFuel customers have performed 11 million
hydrogen fills of electric vehicles, dispensing over 6.7 million
kilograms of hydrogen.
About Plug Power
Inc. The architect of modern hydrogen
and fuel cell technology, Plug Power is the innovator that has
taken hydrogen and fuel cell technology from concept to
commercialization. Plug Power has revolutionized the material
handling industry with its full-service GenKey solution, which is
designed to increase productivity, lower operating costs and reduce
carbon footprints in a reliable, cost-effective way. The Company’s
GenKey solution couples together all the necessary elements to
power, fuel and serve a customer. With proven hydrogen and fuel
cell products, Plug Power replaces lead acid batteries to power
electric industrial vehicles, such as the lift trucks customers use
in their distribution centers.
Extending its reach into the on-road electric vehicle market,
Plug Power’s ProGen platform of modular fuel cell engines empowers
OEMs and system integrators to rapidly adopt hydrogen fuel cell
technology. ProGen engines are proven today, with thousands in
service, supporting some of the most rugged operations in the
world. Plug Power is the partner that customers trust to take their
businesses into the future. Learn more at
www.plugpower.com.
Safe Harbor
StatementThis communication contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 that involve significant
risks and uncertainties about Plug Power Inc. ("PLUG"), including
but not limited to statements about PLUG's expectations regarding
growth in Europe, revenue, growth with GenKey customers and its
project financing platform. You are cautioned that such statements
should not be read as a guarantee of future performance or results,
and will not necessarily be accurate indications of the times that,
or by which, such performance or results will have been achieved.
Such statements are subject to risks and uncertainties that could
cause actual performance or results to differ materially from those
expressed in these statements. In particular, the risks and
uncertainties include, among other things, the risk that we
continue to incur losses and might never achieve or maintain
profitability; the risk that we will need to raise additional
capital to fund our operations and such capital may not be
available to us; the risk that our lack of extensive experience in
manufacturing and marketing products may impact our ability to
manufacture and market products on a profitable and large-scale
commercial basis; the risk that unit orders will not ship, be
installed and/or converted to revenue, in whole or in part; the
risk that pending orders may not convert to purchase orders, in
whole or in part; the risk that a loss of one or more of our major
customers could result in a material adverse effect on our
financial condition; the risk that a sale of a significant number
of shares of stock could depress the market price of our common
stock; the risk that negative publicity related to our business or
stock could result in a negative impact on our stock value and
profitability; the risk of potential losses related to any product
liability claims or contract disputes; the risk of loss related to
an inability to maintain an effective system of internal controls
or key personnel; the risks related to use of flammable fuels in
our products; the cost and timing of developing, marketing and
selling our products and our ability to raise the necessary capital
to fund such costs; the ability to achieve the forecasted gross
margin on the sale of our products; the risk that our actual net
cash used for operating expenses may exceed the projected net cash
for operating expenses; the cost and availability of fuel and
fueling infrastructures for our products; market acceptance of our
products, including GenDrive, GenSure and GenKey systems; the
volatility of our stock price; our ability to establish and
maintain relationships with third parties with respect to product
development, manufacturing, distribution and servicing and the
supply of key product components; the cost and availability of
components and parts for our products; our ability to develop
commercially viable products; our ability to reduce product and
manufacturing costs; our ability to successfully expand our product
lines; our ability to successfully expand internationally; our
ability to improve system reliability for our GenDrive, GenSure and
GenKey systems; competitive factors, such as price competition and
competition from other traditional and alternative energy
companies; our ability to protect our intellectual property; the
cost of complying with current and future federal, state and
international governmental regulations; risks associated with
potential future acquisitions; and other risks and uncertainties
referenced in our public filings with the Securities and Exchange
Commission (the “SEC”). For additional disclosure regarding these
and other risks faced by PLUG, see disclosures contained in PLUG's
public filings with the SEC including, the "Risk Factors" section
of PLUG's Annual Report on Form 10-K for the year ended December
31, 2017. You should consider these factors in evaluating the
forward-looking statements included in this presentation and not
place undue reliance on such statements. The forward-looking
statements are made as of the date hereof, and PLUG undertakes no
obligation to update such statements as a result of new
information.
Media ContactTeal
Vivacquamedia@plugpower.com
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